3 Tips for Metrics Reporting to Inspire Breakthrough Results
Metrics Reporting
Simple, meaningful metrics reporting can guide your business decisions to get the best results. These five tips will boost progress.
Tip 1
Metrics reporting can be done weekly or monthly, depending on the business’s needs. The key numbers and information should be collected into a summary document, spreadsheet, dashboard or reporting tool that presents your data in a comprehensive, easy to understand way.
Tip 2
Create simple reports that show both activity and outcome statistics to drive course corrections and results.
The sample reports below for website stats, Facebook ads, and website stats show some results that may seem odd.
- What happened in month 2 to decrease web stats and in month 3 to cause a rebound?
- How did the Facebook ads change in week 2 that resulted in a much lower conversion rate?
- What made the Program 2 promotion more successful than the other two programs?
Regularly digging into the possible causes of unexpected performance with metrics reporting leads to rapid corrections, saving time and money.
Sample Report #1: Website Stats
Sample Report #2: Facebook Ads
Sample Report #3: Promotions
Tip 3
Review goals alongside metrics weekly, monthly and quarterly, and ask yourself:
- Is the business on track?
- What will you do if you are ahead?
- How can you do more of what is working well?
- What will you do if you are behind?
- How can you improve what's not working to reach your goals?
Metrics reporting is most effective when it highlights the areas that need improvement. This focuses decisions about what to test.
Be sure to only test one thing at a time. If you change too many things you won’t know which one affected the numbers.
Are you just getting started with tracking the metrics of your business?
If so, I recommend you start small. Begin by measuring just a few things, then slowly add more as you get comfortable.
You will soon see the incredible benefit to having that important information at your fingertips, and you’ll be measuring everything before you know it!
Want to know why business owners crave meaningful metrics for success? Read the next blog article.
Need Help with Your Metrics?
Are you using metrics in your business? If you need help getting started, deciding what to track, or making sense of all the data, an Online Business Manager can help. We walk you through your goals, determine what data you should be tracking, and set the process in motion so you can be a success.
Metrics are fun—and that’s not just something numbers people say. It’s fun to watch your metrics go up in response to changes you made. It’s fun to see growth and results from the time, strategy and effort you put into your business. It’s fun to feel empowered, confident and victorious. Let’s have some fun and start measuring your success together.
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